Trade Desk (NASDAQ:TTD) Reaches New 12-Month Low – Here’s What Happened

The Trade Desk, Inc. (NASDAQ:TTD) reached a new 52-week low during trading on Thursday . The stock traded as low as $57.86 and last traded at $60.20, with a volume of 12426696 shares. The stock had previously closed at $58.84.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Oppenheimer decreased their target price on Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. KeyCorp raised their target price on Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Loop Capital decreased their target price on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. DA Davidson cut their price target on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Macquarie increased their price target on Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Trade Desk Price Performance

The stock has a fifty day moving average of $101.57 and a 200 day moving average of $112.58. The firm has a market capitalization of $29.86 billion, a P/E ratio of 77.18, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Equities analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has initiated a share buyback program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 over the last ninety days. 9.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trade Desk

Several hedge funds have recently made changes to their positions in the stock. Ithaka Group LLC grew its position in Trade Desk by 4.5% during the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock worth $12,378,000 after buying an additional 4,836 shares in the last quarter. Lyell Wealth Management LP grew its position in Trade Desk by 24.3% during the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after buying an additional 19,204 shares in the last quarter. Nordea Investment Management AB grew its position in Trade Desk by 36.2% during the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after buying an additional 358,350 shares in the last quarter. Swiss National Bank grew its position in Trade Desk by 0.3% during the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock worth $144,892,000 after buying an additional 4,500 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Trade Desk by 3.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock worth $231,294,000 after buying an additional 68,206 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

About Trade Desk

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.